Checkpoint Therapeutics Sees Unusually High Options Volume (NASDAQ:CKPT)

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) was the target of some unusual options trading on Monday. Investors bought 7,866 call options on the stock. This is an increase of 1,998% compared to the typical volume of 375 call options.

Checkpoint Therapeutics Stock Down 6.5 %

Shares of Checkpoint Therapeutics stock traded down $0.24 during midday trading on Monday, hitting $3.43. The company’s stock had a trading volume of 15,400,721 shares, compared to its average volume of 619,218. Checkpoint Therapeutics has a 1-year low of $1.36 and a 1-year high of $4.50. The firm has a market capitalization of $167.49 million, a P/E ratio of -1.83 and a beta of 1.34. The stock has a 50-day simple moving average of $3.48 and a 200-day simple moving average of $2.66.

Checkpoint Therapeutics (NASDAQ:CKPT) last released its earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.08). As a group, sell-side analysts predict that Checkpoint Therapeutics will post -0.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CKPT shares. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Checkpoint Therapeutics in a research note on Monday. Lake Street Capital lifted their target price on shares of Checkpoint Therapeutics from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Checkpoint Therapeutics in the 3rd quarter worth approximately $30,000. XTX Topco Ltd purchased a new stake in shares of Checkpoint Therapeutics during the second quarter worth $34,000. Gladstone Institutional Advisory LLC raised its holdings in shares of Checkpoint Therapeutics by 141.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 35,000 shares of the company’s stock worth $78,000 after acquiring an additional 20,500 shares in the last quarter. Magnus Financial Group LLC boosted its position in Checkpoint Therapeutics by 12.9% during the third quarter. Magnus Financial Group LLC now owns 35,000 shares of the company’s stock valued at $78,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Choreo LLC grew its stake in Checkpoint Therapeutics by 12.2% in the second quarter. Choreo LLC now owns 65,002 shares of the company’s stock valued at $133,000 after purchasing an additional 7,080 shares in the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

About Checkpoint Therapeutics

Checkpoint Therapeutics, Inc, a clinical-stage immunotherapy and targeted oncology company, focuses on the acquisition, development, and commercialization of novel treatments for patients with solid tumor cancers in the United States and internationally. The company's lead antibody product candidate is Cosibelimab, which is in Phase 1 clinical trial to treat patients with selected recurrent or metastatic cancers; and CK-302, a product candidate in preclinical trials for hematological malignancies and solid tumors.